[ad_1]
ILLUSTRATION. Workers walk past the digital stock movement screen at the IDX building, Jakarta. AMONG PHOTOS / Akbar Nugroho Gumay / wsj.
Reporter: Ika Puspitasari | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Composite Stock Price Index (IHSG) remains strong to accelerate ahead of the Christmas and New Years holidays. Infovesta Utama Investment Research Director Wawan Hendrayana sees that JCI has the potential to break the 6,300 level until the last trade in 2020 or more than last year’s closing trade at 6,299.54.
According to Wawan, the driving force behind the JCI move remains the euphoria regarding the Covid-19 vaccine.
“Market players really hope that vaccination will be successful and that the economy will recover soon next year, so their interest is still there to buy“Wawan said when contacted by Kontan.co.id.
Another sentiment that energized the JCI movement was the prediction of an improving trend in Indonesia’s economic growth. The latest data, the Central Statistics Agency (BPS) recorded that the inflation rate in November 2020 was 0.28% month-on-month.
Additionally, the growing car sales data also provided fresh air for JCI.
In total, car sales in November reached 53,844 units, an increase of 8.9% compared to October 2020 of 49,018 units. While total Wholesales January-November 2020 amounted to 474,910 units, or even 49.8% less compared to the same period of the previous year of 945,245 units.
Read also: Consumer Goods Stocks Rank Losers in LQ45 and KOMPAS100 Index, See Perspective
Therefore, Wawan said this week that JCI would move to strengthen with a range of 6,100 to 6,300.
“The movement to this day is still quite large, market players are trying to get JCI to reach a new support at 6,200 this week,” he added.
At the close of business today, JCI managed to gain 1% to the level of 6,165.63. Wawan said that JCI had risen significantly in the past two months, that is, about 30% or it became the largest increase for JCI in history.
Therefore, Henry said, it becomes natural if there is a deep correction in January 2021 due to profit taking.
“Next year there will be a wave of correction profit taking. “The assumption is that by the end of the year it will be 6,300, if it is achieved, JCI is expected to reach the level of 6,800 to 7,000 next year,” he said.
Henry recommends that market players Commerce with a focus on large-cap stocks with good fundamentals. He defended shares in the nickel mining sector in line with the prospect of developing electric cars and shares in the telecommunications sector.
In addition, he also advised investors to diversify and be careful, because a number of stocks are currently reasonably priced.
“Now JCI at the 6,000 valuation level is no longer cheap, so what investors are seeing should be projected earnings for next year,” he explained.
Meanwhile, Pilarmas Invesntindo Sekuritas analyst Okie Ardiastama assessed that market movements before long vacations will be more limited. Especially if it refers to the last few weeks, the increase in JCI is considered quite significant, so upside down by the end of the year it is also more limited.
“Currently, sentiment is also quite minimal, as long as there is no pressure from external geopolitics and the growth of the Covid-19 case is still under control, market fluctuations are expected to be smaller as well,” Okie said on Monday (21 / 12).
Okie predicted that JCI will move limited to the 6,067 – 6,220 range this week. The prospects for economic recovery in the coming year are enough to overshadow the JCI movement. Then the issuer’s performance in the fourth quarter of 2020 is also seen as the focus of more investors to support long-term investment strategies.
DONATION, Get Free Vouchers!
As an expression of appreciation for your attention, there are free vouchers worth donations that can be used to shop at the KONTAN store.
